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1. Embed this notice
   Merry Jerry 🎄🎅🕎⛄️❄️ (jerry@infosec.exchange)'s status on Sunday, 12-Mar-2023 02:06:43 JST Merry Jerry 🎄🎅🕎⛄️❄️

   When I mentioned second order impacts of SVB failing, this is the sort of thing I was thinking: https://www.cnbc.com/2023/03/11/stablecoin-usdc-breaks-dollar-peg-after-firm-reveals-it-has-3point3-billion-in-svb-exposure.html - which begs the question: what breaks now that this stable coin has is no longer stable?

   • Embed this notice
     Futurist Jim Carroll (jimcarroll@futurist.info)'s status on Sunday, 12-Mar-2023 02:06:42 JST Futurist Jim Carroll

     in reply to

     @jerry

     Bye bye Tether

   • Embed this notice
     Matt Corallo (matt@mastodon.bitcoin.ninja)'s status on Sunday, 12-Mar-2023 06:55:43 JST Matt Corallo

     in reply to

     • Futurist Jim Carroll

     @jimcarroll @jerry tether not impacted at all…

   • Embed this notice
     Futurist Jim Carroll (jimcarroll@futurist.info)'s status on Sunday, 12-Mar-2023 06:55:43 JST Futurist Jim Carroll

     in reply to

     • Matt Corallo

     @matt @jerry yet.

   • Embed this notice
     Futurist Jim Carroll (jimcarroll@futurist.info)'s status on Sunday, 12-Mar-2023 07:07:10 JST Futurist Jim Carroll

     in reply to

     • Matt Corallo

     @matt @jerry I've long been in the camp of not believing the Tether story at all. None of the 'audits' etc have ever made sense.

   • Embed this notice
     Matt Corallo (matt@mastodon.bitcoin.ninja)'s status on Sunday, 12-Mar-2023 07:07:11 JST Matt Corallo

     in reply to

     • Futurist Jim Carroll

     @jimcarroll @jerry I mean sure if more banks go under, but the impact of these things hurts a ton of normal people trying to pay rent more than tether…

   • Embed this notice
     Futurist Jim Carroll (jimcarroll@futurist.info)'s status on Sunday, 12-Mar-2023 08:13:09 JST Futurist Jim Carroll

     in reply to

     • Matt Corallo

     @matt @jerry I've met the founders too.

     https://www.deltecbank.com/deltec-annual-conference-2019/?locale=fr

     Check the agenda.

     SBF was really nice too, wasn't he?

     Also, I have a great fun story about jvdv. Made me question every single assumption.

   • Embed this notice
     Matt Corallo (matt@mastodon.bitcoin.ninja)'s status on Sunday, 12-Mar-2023 08:13:10 JST Matt Corallo

     in reply to

     • Futurist Jim Carroll

     @jimcarroll @jerry I firmly believe that they will eventually implode for one reason or another and encourage folks not to use it, but I do cut them a bit of slack because they were the first - when Tether was founded any lawyer and any bank would happily tell you operating a stablecoin was outright illegal and people have gonna to jail for it (see, eg, liberty reserve).

     Thus, tether was stuck on shadow banks, other people’s bank accounts, etc, etc. problem is they haven’t been able to outgrow that perception and so they still have trouble getting good banking and other relationships.

     Still makes them sketchy, but at least it explains the why without resorting to unsubstantiated claims they’re outright frauds (I’ve met the founders, they’re super nice people!).

   • Embed this notice
     Futurist Jim Carroll (jimcarroll@futurist.info)'s status on Sunday, 12-Mar-2023 08:18:40 JST Futurist Jim Carroll

     in reply to

     • Matt Corallo

     @matt @jerry "they haven’t been able to outgrow that perception and so they still have trouble getting good banking and other relationships."

     I think any crypto thing will have trouble getting any real banking relationships at this point given everything that has transpired and what is still yet to come. A long dark winter....